The Federal Trade Commission (FTC) has approved a petition from Cooperativa De Farmacias Puertorriqueñas, also known as Coopharma, to modify the 2012 final order issued against them. This decision follows a public comment period.

The original 2012 order had restricted Coopharma, a cooperative of independent pharmacy owners in Puerto Rico, from engaging in certain agreements with pharmacies and prohibited the facilitation of information exchanges regarding contract terms with insurance payors. The order was part of a settlement on antitrust charges that accused Coopharma of harming competition by coordinating price-fixing agreements among its member pharmacies with insurers and pharmacy benefit managers (PBMs).

With the approval of this petition, Coopharma is now allowed to negotiate jointly with insurers or PBMs on behalf of pharmacies. This joint negotiation is granted state action immunity as long as it is supervised by an entity appointed by Puerto Rico under the local statutory and regulatory framework.

Coopharma requested this modification in August, citing changes in Puerto Rican law that permit state oversight over health care provider cooperative negotiations with payors. They argued that the growing dominance of PBMs and their capacity to enforce unfair contractual terms have been detrimental to independent pharmacies' competitive abilities.

The FTC's decision to approve Coopharma's petition was unanimous, with a 5-0 vote. Chair Lina M. Khan and Commissioner Melissa Holyoak provided separate statements regarding the decision.

The Federal Trade Commission continues its mission to promote competition while protecting and educating consumers. The FTC emphasizes that it will never demand money or make threats and advises individuals on how to file antitrust complaints or learn about consumer benefits through competition.